The program for acquiring Montenegrin citizenship through investments will last three years, starting on January 1, 2019, and a maximum of 2.000 applications can be accepted during that period.
This is foreseen by the Government's Decision on the criteria, method and procedure for selecting persons who can acquire Montenegrin citizenship by admission for the purpose of implementing an investment program of special importance for the economic and economic interest of Montenegro.
At today's session of the Government, it was assessed that investments should contribute to the development of less developed municipalities and intensify projects in the field of tourism, agriculture and processing industry.
One of the conditions is that a foreigner can apply for Montenegrin citizenship who has not been convicted in Montenegro or another country and for whom the international suitability assessment agent gave a positive opinion, including proof of the origin of the money intended for payment and investments in accordance with this decision.
"It is not about selling passports, but about encouraging investments in development projects, and those for which the Government gives its consent. There is no room for concern about the credibility of the applicants, considering that their verification is provided at several levels. The applicant submits a request for the implementation of a special program through a mediation agent, and the check is performed by an agent for the assessment of international suitability, who must have a license. Also, certain checks, in accordance with the law, are also the responsibility of the Ministry of Internal Affairs", the Government's "News" announced, after which a press conference is expected.
The applicant can acquire Montenegrin citizenship by admission on the basis of a special program if he has paid a certain amount of money for himself and his family members for the purpose of the procedure costs, if he has deposited an amount of 100.000 euros in the ESCROW account for the development of less developed local self-government units, for the purpose referred to in Article 18 of the Law on regional development. He can also acquire it if he has paid at least 450.000 euros to the ESCROW account for investment purposes in one of the development projects in Podgorica or the coastal region, or an amount of at least 250.000 euros for investment purposes in one of the development projects in the northern or central region of Montenegro, except for Podgorica .
According to the government, the money will be paid into a special fund from which the construction of infrastructure in less developed municipalities, primarily in the north of the country, will be financed.
The decision specifies that the control of payments will be supervised by an independent auditor hired by the competent authority, based on a public call, to monitor investments in development projects.
When asked what is meant by development projects, the executive authority replied that in terms of this decision, the construction of a hotel/mixed complex is understood:
- With five stars in the coastal region or the capital or at least four stars in the northern or central region, except for Podgorica
- For which a minimum investment of EUR 15.000.000 is necessary in the coastal region or Podgorica or a minimum investment of EUR 5.000.000 in the northern or central region, except in Podgorica
- Which will employ at least 80 employees in the coastal region or Podgorica or at least 25 employees in the northern or central region, except Podgorica
- Which will have at least 60 accommodation units in the coastal region or Podgorica or at least 35 accommodation units in the northern or central region, except Podgorica.
The list of development projects in the field of tourism is determined by the Government at the proposal of the line ministry.
When it comes to development projects in the field of agriculture and processing industry, they are considered to be:
- Projects in the field of agriculture that meet the conditions determined by the relevant ministry
- Projects in the field of processing industry, which meet the conditions established by the state administration body responsible for economic affairs.
If it is subsequently established that a person who acquired Montenegrin citizenship by admission in accordance with this decision, provided false information or deliberately concealed facts and circumstances, as well as in the event that the agent for the assessment of international suitability for that person provided incorrect information in his report, is the decision on the loss of citizenship.
Bonus video:
